Quantcast
Jump to content

Dave Ramsey Financial Program [THA 300]


Recommended Posts

Hear from 3 shop owners that provide financial education for their employees. Setting our employees up for success in life goes beyond signing paychecks. Watch the Episode on YouTube John Gustafson, Gustafson Brothers, Huntington Beach, CA. John’s previous episodes HERE Russell Crosby, Russ’s Wrench Auto Repair, Clinton, NJ. Russ’s previous episodes HERE Shawn Gilfillan, Automotive MagicKenvil and Lake Hopatcong, NJ. Listen to Shawn’s previous episodes HERE Key Talking Points

  • Orientation at John's shop- offer to sponsor each team member’s membership in the Dave Ramsey personal financial series if they choose to participate. John also offers whiteboard sessions to team members or groups of team members on Business Math and another session on Personal Math. The personal math includes the team member on the whiteboard listing their assets, liabilities, after-tax spendable income, expenses, cash flow either pos or neg, 6-month reserve, and investment savings buckets.
  • Mentor/mentee thought process- the owner is the mentor
  • Lunch and learn with financial advisors, mortgage broker etc
  • $100 a month invested at 25 years old, by the time you retire it will be about 1,000,000
  • Getting the partner/spouse involved is key
  • Transparency with business financial numbers
  • Employees sharing with others how the Dave Ramsey Progam has helped
  • The stress that is lifted when you can create your budget to be workable
  • Social media impact- keeping up with the jones’
  • Getting ahead of debt with the debt snowball- paying off debt in order of smallest to largest. When the small debt is paid in full, you roll the minimum payment you were making on that debt into the next smallest debt payment
  • Educating the younger generation- setting their future in a positive direction


Connect with the Podcast Aftermarket Radio Network Subscribe on YouTube Visit us on the Web Follow on Facebook Become an Insider Buy me a coffee Important Books Check out today's partners: Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com Delphi-Call-to-action.png       Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. DelphiAftermarket.com ARN-Website-Banner-July-2022-1200x400-1. Screenshot_340-1.png

Click to go to the Podcast on Remarkable Results Radio

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Have you checked out Joe's Latest Blog?

         5 comments
      I recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
      Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
      Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
      Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
      Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”
  • Similar Topics

    • By nptrb

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Changing The Industry
      The Basics of Owning An Auto Repair Shop - FAQs
    • By carmcapriotto
      Matt Fanslow discusses the importance of automotive repair shops setting a barometer for the value they provide. He compares this to consumer and professional products in other industries, like lawnmowers and chainsaws, to illustrate differences in quality.
      Show Notes
      Comparing lawnmowers and chainsaws (00:01:14)  Demonstrating value in automotive repair (00:10:46)  Marketing and communication strategy (00:12:57)  Setting the barometer through demonstration (00:15:22)  Utilizing social media and radio for marketing (00:17:34)  Comparing Products (00:19:44)  Demonstrating Value (00:20:51)   
      Thanks to our Partner, NAPA Autotech napaautotech.com
       
      Email Matt: [email protected]
      Diagnosing the Aftermarket A - Z YouTube Channel HERE
      Aftermarket Radio Network: https://aftermarketradionetwork.com/
      Click to go to the Podcast on Remarkable Results Radio
    • By Changing The Industry
      Episode 161 - Realities of Coaching in the Auto Industry & Customer Misconceptions with Matt Wagg
    • By carmcapriotto
      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      In this podcast episode, Chris Cotton, an auto repair business coach, talks with Mark, owner of an independent European auto repair shop in Rochester, New York, that also does sales and bodywork. They discuss Mark's family history, including his father's move from Germany to the U.S. and his transition from diamond cutting to car sales. Mark recounts his own path in the family business, from washing cars to his current role, and the lessons learned along the way. They also delve into succession planning, with Mark's son Hunter potentially taking over in the future. Mark highlights the benefits of working with Chris implementation of a new service management system, and the positive changes in business performance and staff engagement. The episode touches on the importance of regular staff meetings, understanding daily business metrics, and the joy of family involvement in the business. It concludes with personal anecdotes about family meals and the cultural heritage that enriches their lives.
       
      The background of Mark's family (00:00:05) Mark talks about his father's journey from Germany to the United States and their family background. Mark's family's journey in the auto repair business (00:02:05) Mark shares the story of his family's involvement in the auto repair business, including their transition from sales to service. Mark's father's journey in the auto industry (00:04:08) Mark details his father's experiences in the car industry, from working at a BMW dealership to starting his own car sales business. Mark's connection to European cars (00:10:52) Mark discusses his family's deep connection to European cars, particularly Audi, BMW, Mercedes, and Volkswagen. Mark's journey in the auto repair business (00:14:48) Mark reflects on his journey in the auto repair business, from washing cars to becoming a service advisor and learning to buy cars at auctions. Car Sales and Sunroof Surprise (00:19:22) Mark recalls a car sales experience and his father's tough love and succession plan. Auto Auction and Nostalgia (00:21:29) Chris shares his experience working at an auto auction, and both speakers reminisce about the excitement of auctions. Transition and Succession Plan (00:23:16) Mark discusses his role in the business and the prolonged transition plan from his father. Family Involvement and Future Plans (00:25:43) Mark talks about family members' roles in the business and his son's potential as a service manager. Succession Planning and Family Dynamics (00:29:31) Mark emphasizes the importance of communication and close relationships in succession planning. Future of the Business and Retirement (00:34:14) Mark discusses his long-term plans for the business and his reluctance to fully retire. Family Living Arrangements (00:36:40) Mark shares that his mother still lives in the family home, and he and his wife live next door. Each timestamp is followed by a short description of the topics covered in the corresponding segment of the podcast episode. Family and Business History (00:37:29) Discussion about family's daily routine and plans for creating a slideshow of old pictures for the website. Transition to New Location and Succession Plan (00:38:19) Mark mentions the upcoming 40th anniversary at the new location and transitions to discussing their decision to change service management systems. Transition to Auto Leap Service Management System (00:39:13) Mark's decision to switch to Auto Leap, initial challenges, and his encounter with Chris Cotton's podcast. Initial Meeting and Decision to Work with Chris (00:43:40) Mark's initial meeting with Chris at a convention, initial reluctance to work with a coach, and the decision to start working with Chris. Impact of Coaching on Business (00:45:48) Positive impact of coaching on business performance, particularly in December and January, and how it has improved their outlook for the year. Benefits of Coaching and 20 Groups (00:50:40) Discussion about the value of coaching, 20 groups, and the supportive industry landscape in Rochester. Shop Renovation and Growth (00:54:30) Description of the shop's renovation and growth, including the increase in employees and the focus on cleanliness. Future Plans and Idea Sharing (00:55:20) The anticipation of a productive year with many ideas yet to be explored and nurtured during the coaching sessions. Accountability and Responsibility (00:55:34) Discussion on the importance of accountability and responsibility in business ownership. Meetings and Regimen (00:56:37) The significance of regular meetings and a structured approach to managing the business. Future Plans and Succession (00:58:36) Mark's future plans for the business, including the involvement of his son and the transition of responsibilities. Family Traditions and Gratitude (00:59:22) Mark's family traditions, including meals prepared by his mother, and expressions of gratitude. Closing Remarks and Sponsorship (01:01:00) The conclusion of the episode, including acknowledgments and sponsorship mentions.  
       
       
      Connect with Chris:
      [email protected]
      Phone: 940.400.1008
      www.autoshopcoaching.com
      Facebook: https://www.facebook.com/
      AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
       
      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook #riseandgrind
      Click to go to the Podcast on Remarkable Results Radio


  • Our Sponsors



×
×
  • Create New...